Press Release - Oslo, Norway, March 14, 2025: Photocure ASA (OSE: PHO), the
Bladder Cancer Company, announces the publication of the study "Oncologic
Outcomes of Blue Light Cystoscopy in an Equal Access Setting: Results of the
BRAVO study" in JU Open Plus this week. The research objective was to assess if
blue light cystoscopy (BLC[®]) aided TURBT has an impact on the clinical
outcomes of patients with NMIBC*. Results of the real-world evidence study show
that BLC was associated with a statistically significant 38% reduction in risk
of recurrence compared to white light cystoscopy (WLC) use alone in a
predominantly high-risk NMIBC patient cohort. These results are in line with
prior results from multiple randomized controlled clinical trials.

The BRAVO study (Bladder Cancer Recurrence Analysis in Veterans and Outcomes) is
a propensity score matched, retrospective analysis evaluating clinical outcomes
following BLC compared to WLC alone in patients from the Veterans Affairs
Healthcare System.

626 patients were included in this study, 313 in each study arm (WLC versus
BLC). Outcomes data for BRAVO was measured at a 3-year time point in a
predominately high-risk patient population. Median age at diagnosis was 71
years. Median follow-up was 3.7 years.

Study results include:

  · Risk of recurrence at 3-years was significantly reduced following BLC vs.
WLC (HR, 0.62